Absurd Valuations on Unprofitable Tech Stocks

The Treasury Secretary chimes in on what any market watcher should know instinctively. Mnuchin talks tech: ‘I don’t understand these valuations’, yet the price on promises and future expectation of earnings has a large amount of the equity speculators and computerized trading in a crisis of sanity. Avoiding the fundamental relationship that a stock value is based upon the ability of a company to turn a profit, has become the hottest investment hoax since Bernard Madoff was pitching his Ponzi scheme. Uber, Snapchat and Twitter may be high flyers for the smart set, but for rational venture capitalists, plunking down gambles on risky enterprises that only feed on publicity hype is a sure bet on going broke.

There’s an exciting new development in the “Russia-gate” investigation, one that has the potential to blast apart what is arguably the biggest hoax in the history of American politics. Rep. Dana Rohrabacher (R-California) has met with Julian Assange – the first US congressman to do so – and…

Whether he holds good on it is beside the point. President Donald J. Trump’s great value to US foreign policy is its lack of artifice and sophistication, a bullying force of nature that alters with the next burst of …